>> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right now that if i had any idea this-- i wouldn't, if i had a choice, but this project was started four years ago. these things have a huge lead time. >> the gambling industry has been battered by the recession and taken the city of las vegas down with it. some casinos stand half built. unemployment is over 10%. and while steve wynn has had to slash employees' pay and lower room prices, he plows ahead, doing whatever it takes to get customers to his new hotel. >> this is encore. [dramatic orchestral music] ♪ >> and, yes, he really was sitting on top of the building. >> next time, we do this in the lobby. >> the encore is connected to his other las vegas hotel, the wynn, and he has a third in macau, china. inside, his hotels are fantasy lands for well-heeled adults. he brought gourmet restaurants and high-end shopping to the strip. his hotels may be extravagant, but his business strategy is conservativ